Agnico Eagle Mines Limited $AEM Stake Boosted by Groupama Asset Managment

Key Points

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Groupama Asset Managment increased its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM by 23.6% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,278,820 shares of the mining company's stock after purchasing an additional 244,039 shares during the quarter. Agnico Eagle Mines accounts for about 1.1% of Groupama Asset Managment's investment portfolio, making the stock its 20th largest holding. Groupama Asset Managment owned approximately 0.25% of Agnico Eagle Mines worth $137,294,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AEM. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Agnico Eagle Mines by 1.5% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,702 shares of the mining company's stock valued at $618,000 after acquiring an additional 85 shares in the last quarter. Hexagon Capital Partners LLC grew its position in Agnico Eagle Mines by 31.1% in the first quarter. Hexagon Capital Partners LLC now owns 367 shares of the mining company's stock valued at $40,000 after acquiring an additional 87 shares in the last quarter. Benjamin Edwards Inc. grew its position in Agnico Eagle Mines by 2.0% in the fourth quarter. Benjamin Edwards Inc. now owns 5,472 shares of the mining company's stock valued at $428,000 after acquiring an additional 106 shares in the last quarter. Laird Norton Wetherby Wealth Management LLC grew its position in Agnico Eagle Mines by 1.8% in the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 6,944 shares of the mining company's stock valued at $543,000 after acquiring an additional 120 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its position in Agnico Eagle Mines by 19.3% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 774 shares of the mining company's stock valued at $84,000 after acquiring an additional 125 shares in the last quarter. Institutional investors and hedge funds own 68.34% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AEM. CIBC reaffirmed an "outperform" rating on shares of Agnico Eagle Mines in a research report on Tuesday, July 15th. Raymond James Financial raised shares of Agnico Eagle Mines to a "moderate buy" rating and set a $130.00 price objective for the company in a research report on Monday, June 30th. Lake Street Capital reaffirmed a "buy" rating on shares of Agnico Eagle Mines in a research report on Monday, June 23rd. Royal Bank Of Canada increased their target price on Agnico Eagle Mines from $115.00 to $145.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. Finally, TD Securities upgraded Agnico Eagle Mines to a "strong-buy" rating in a research note on Thursday, July 17th. Five investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $136.90.

Agnico Eagle Mines Stock Up 0.6%

Shares of Agnico Eagle Mines stock traded up $0.7570 on Friday, hitting $137.0970. 2,872,881 shares of the company's stock traded hands, compared to its average volume of 2,551,285. The stock has a market cap of $68.94 billion, a P/E ratio of 23.32, a PEG ratio of 0.95 and a beta of 0.44. The company has a quick ratio of 1.16, a current ratio of 2.03 and a debt-to-equity ratio of 0.03. The firm's 50-day moving average is $125.39 and its 200 day moving average is $114.81. Agnico Eagle Mines Limited has a 52-week low of $75.17 and a 52-week high of $138.02.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last released its earnings results on Wednesday, July 30th. The mining company reported $1.94 EPS for the quarter, beating the consensus estimate of $1.83 by $0.11. Agnico Eagle Mines had a return on equity of 13.79% and a net margin of 30.63%.The company had revenue of $2.86 billion during the quarter, compared to analysts' expectations of $2.46 billion. During the same period in the prior year, the business posted $1.07 EPS. The business's revenue was up 35.6% on a year-over-year basis. Equities analysts anticipate that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current year.

About Agnico Eagle Mines

Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. It explores for gold. The company's mines are located in Canada, Australia, Finland and Mexico, with exploration and development activities in Canada, Australia, Europe, Latin America, and the United States.